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Loans
 Websites presented in alphabetical order About Fannie Mae 
 Overview of the private corporation that was originally established by the federal government in 1938 "to expand the flow of mortgage money by creating a secondary market." Provides a history of Fannie Mae and an overview of its efforts to increase "the availability and affordability of homeownership for low-, moderate-, and middle-income Americans." Further information about Fannie Mae can be found in the FAQ section of this official website. http://www.fanniemae.com/aboutfm/index.jhtml?p=About+Fannie+Mae Topics: Consumer Research & Advocacy, Housing, Investing, Money Last updated Jun 20, 2007 Center for Responsible Lending (CRL)
This "nonprofit, nonpartisan research and policy organization [is] dedicated to protecting homeownership and family wealth by working to eliminate abusive financial practices." Its site features reports and other publications (some in Spanish) on topics such as payday loans and predatory lending, CRL testimony before federal bodies, and material about state laws and legislative activity, with links to recent news items. http://www.responsiblelending.org Topics: Consumer Research & Advocacy, Money Last updated Dec 13, 2006 Don't Be a Victim of Loan Fraud
"Every year, misinformed homebuyers, often first-time purchasers or seniors, become victims of predatory lending or loan fraud." This consumer information resource from the U.S. Department of Housing and Urban Development (HUD) provides a definition of predatory lending, tactics used by predatory lenders, and tips on buying and financing a home. Includes a link to a list of HUD's housing counseling agencies. http://www.hud.gov/offices/hsg/sfh/buying/loanfraud.cfm Topics: Business, Consumer Research & Advocacy, Corruption & Fraud, Housing, Investing, Money Last updated Oct 14, 2003 Don't Pay to Borrow Your Own Money: The Risks and Costs of Tax Refund Anticipation Loans
This brochure discusses why it does not make economic sense to take out a tax refund anticipation loan (RAL). Topics addressed include extremely high interest rates and how RALs can be dangerous because, being loans, they must be repaid even if the tax refund is not received. Also includes suggestions for ways to save money at (and before) tax time. Opens directly into a PDF file. From the National Consumer Law Center. http://www.consumerlaw.org/issues/refund_anticipation/content/RALBrochure.pdf Topics: Consumer Research & Advocacy, Tax Filing Season Last updated Mar 4, 2009 Financial Education and Tools
Contains information and interactive planning tools on savings, budgeting, home and car purchasing, investing, loans, education, retirement, and estates. From Bank of America. http://www.bankofamerica.com/financialtools/ Topics: Automobiles, Consumer Research & Advocacy, Finance, Housing, Investing, Jobs & Work, Money, Seniors Last updated May 29, 2005 Interest.com
This site "provides the tools and review information that can assist consumers to make the best financial decisions. ... Features ... [include] financial calculators, mortgage charts, consumer articles and [free] e-mail newsletters." Covers mortgages, auto loans, credit card debt and management, home equity loans, bad credit and how to repair it, and investing basics. "Interest.com is an independent information service and is not affiliated with any lending institution." http://www.interest.com/ Topics: Consumer Research & Advocacy, Housing, Investing, Money Last updated Oct 10, 2005 Office of Federal Housing Enterprise Oversight (OFHEO)
"OFHEO's mission is to promote housing and a strong national housing finance system by ensuring the safety and soundness of Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation)." This site features analysis and documents, including news about the July 2008 efforts of the federal government to bolster the financial stability of these mortgage giants. Also includes an index of house price appreciation and related information for consumers. http://www.ofheo.gov Topics: Consumer Research & Advocacy, Housing, Investing, Money Last updated Jul 14, 2008 Prosper: The eBay of Loans?
This 2006 article describes a new online financial service that "matches people who need small loans, but can't get them from traditional banks, with willing lenders." These person-to-person loans do not just "provide a new way for individuals to get small loans. It could also turn anyone with a little money into a banker." Discusses how Prosper works, payment processing, and potential problems with defaults. From Business Week. http://www.businessweek.com/technology/content/feb2006/tc20060213_147523.htm Topics: Consumer Research & Advocacy, Money Last updated Nov 6, 2007 Q&A: Freddie Mac and Fannie Mae
Brief answers to questions from July 2008 about "[t]roubled US mortgage giants Freddie Mac and Fannie Mae [who] are at the heart of the US housing market." Covers who are Fannie Mae and Freddie Mac ("shareholder-owned companies mandated by the US Congress to provide funding to the housing market"), what they do, why they are in trouble, and what would happen if they failed. From the British Broadcasting Corporation (BBC). http://news.bbc.co.uk/2/hi/business/7502310.stm Topics: Consumer Research & Advocacy Last updated Jul 14, 2008 Quicken Loans
This site "allows you to research home loans, learn about home financing, and apply and sign your application." Contains information and interactive tools on home refinance, purchasing, and equity loans. Searchable. https://www.quickenloans.com/ Topics: Consumer Research & Advocacy, Housing, Investing, Money Last updated Dec 12, 2008 What You Should Know About Home Equity Lines of Credit
Questions and answers about the "form of revolving credit in which your home serves as collateral." Discusses what to look for when shopping for a home equity plan, the costs involved, repaying the loan, and lines of credit versus traditional second mortgage loans. Includes a checklist for comparing loans. In English and Spanish. From the Federal Reserve Bank. http://www.federalreserve.gov/pubs/equity/equity_english.htm Topics: Consumer Research & Advocacy, Money Last updated Jun 29, 2004 |
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